Gloin shrugs. "Our journey is a short story, unless you care about the details of the roads and trees in Wilderland, or of the tolls the Beornings charge on the High Pass. Thranduil still reigns in Mirkwood, and the Pass is still clear of Orcs, but I am sure you know that.
"The reason for our journey, though, is a longer tale. In brief, the times have been good for us in the Lonely Mountain since the Dragon was slain and Dain crowned - but still, many years ago, it was whispered among some that still greater wealth and splendor would be found in another wider place..."
And so, Gloin continues, Balin - and many Dwarves with him - left for Moria, where none save Thror only had dared to pass the doors for many lives of kings for fear of an unknown danger.
The reports were good at the start, but then came silence.
And then came a rider in the night to the Lonely Mountain: an ambassador, he said, from Sauron the Great, who wished for their friendship. Rings he would give - for news of hobbits.
"At this we were troubled, and gave no answer. And then he would have sweetened his voice if he could have, saying 'As a small token only of your friendship Sauron asks this: that you should find this thief and get from him, willing or no, a little ring, the least of rings, that he once stole. It is but a trifle Sauron fancies, and an earnest of your good will. Find it, and three rings that the Dwarf-sires possessed of old shall be returned to you, and the realm of Moria shall be yours for ever. Find only news of the thief, whether he still lives and where, and you shall have great reward and lasting friendship from the Lord. Refuse, and things will not seem so well.'
"Dain our king would not answer, but said he must consider the message. Heavy have our hearts been since that night; we knew already that the power of Sauron has ever betrayed us of old. Not all think him able to keep his promise, even should we betray our friend Bilbo to him; none think him willing. Twice his ambassador has returned and gone unanswered; the third and last time, he says, is soon to come.
"And so I have been sent at last to warn Bilbo that he is sought by the Enemy; and to crave the advice of Elrond. For the Enemy is already gathering war on our eastern borders."